Everence Capital Management Inc. Has $3.77 Million Position in McKesson Co. (NYSE:MCK)

Everence Capital Management Inc. reduced its stake in McKesson Co. (NYSE:MCK) by 9.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,134 shares of the company’s stock after selling 830 shares during the period. Everence Capital Management Inc.’s holdings in McKesson were worth $3,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in MCK. Covestor Ltd boosted its position in McKesson by 72.3% during the 1st quarter. Covestor Ltd now owns 81 shares of the company’s stock worth $25,000 after buying an additional 34 shares during the period. OFI Invest Asset Management acquired a new position in shares of McKesson in the 3rd quarter worth approximately $26,000. Legacy Financial Group LLC acquired a new position in shares of McKesson in the 3rd quarter worth approximately $27,000. Live Oak Investment Partners acquired a new position in shares of McKesson in the 4th quarter worth approximately $30,000. Finally, BKM Wealth Management LLC acquired a new position in shares of McKesson in the 4th quarter worth approximately $31,000. 85.07% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Brian S. Tyler sold 3,473 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now directly owns 43,445 shares in the company, valued at $22,789,074.75. The sale was disclosed in a document filed with the SEC, which is available at this link. In other McKesson news, EVP Leann B. Smith sold 186 shares of McKesson stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $496.00, for a total transaction of $92,256.00. Following the completion of the sale, the executive vice president now directly owns 1,511 shares in the company, valued at $749,456. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Brian S. Tyler sold 3,473 shares of McKesson stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $524.55, for a total transaction of $1,821,762.15. Following the sale, the chief executive officer now owns 43,445 shares of the company’s stock, valued at $22,789,074.75. The disclosure for this sale can be found here. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MCK. Leerink Partnrs restated an “outperform” rating on shares of McKesson in a research note on Monday, February 26th. Citigroup boosted their price target on shares of McKesson from $530.00 to $575.00 and gave the company a “buy” rating in a research note on Thursday, February 8th. Barclays assumed coverage on shares of McKesson in a report on Wednesday, January 3rd. They set an “overweight” rating and a $537.00 price objective on the stock. StockNews.com downgraded shares of McKesson from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 4th. Finally, Mizuho lifted their price objective on shares of McKesson from $450.00 to $505.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $533.50.

McKesson Stock Performance

NYSE MCK traded up $5.67 during trading on Tuesday, hitting $528.35. 362,603 shares of the company’s stock traded hands, compared to its average volume of 690,535. The stock has a market capitalization of $69.43 billion, a price-to-earnings ratio of 23.68, a PEG ratio of 1.42 and a beta of 0.45. McKesson Co. has a 12-month low of $352.34 and a 12-month high of $543.00. The business has a 50 day moving average of $523.34 and a 200-day moving average of $484.53.

McKesson (NYSE:MCK) last released its quarterly earnings data on Wednesday, February 7th. The company reported $7.74 EPS for the quarter, beating the consensus estimate of $7.05 by $0.69. The business had revenue of $80.90 billion for the quarter, compared to the consensus estimate of $77.93 billion. McKesson had a net margin of 0.99% and a negative return on equity of 262.63%. The company’s revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.90 earnings per share. On average, analysts expect that McKesson Co. will post 27.59 EPS for the current year.

McKesson Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 1st were given a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 0.47%. The ex-dividend date was Thursday, February 29th. McKesson’s dividend payout ratio is presently 11.24%.

About McKesson

McKesson Corporation provides healthcare services in the United States and internationally. It operates through four segments: U.S. Pharmaceutical, Prescription Technology Solutions (RxTS), Medical-Surgical Solutions, and International. The U.S. Pharmaceutical segment distributes branded, generic, specialty, biosimilar and over-the-counter pharmaceutical drugs, and other healthcare-related products.